G10 FX has been range-bound. GBP sits at......>

FOREX: G10 FX has been range-bound. GBP sits at the top of the G10 FX pile. The

Brexit Party is on course to take the most seats on a single party basis in the

EU elex. Lib Dems also fared well. Labour struggled, losing several "stronghold"

seats, while the ruling Tory party's vote share has been described as being in

"freefall" by some. Elsewhere, current front runner to replace PM May, Boris

Johnson, noted that it wouldn't be sensible to solely aim to leave the EU

without a deal, but it would not be responsible to take no deal off the table.

- EUR price action was ltd. The Lib Dems & Greens have been the biggest winners

in the EU elex. The populist surge has seemingly been nowhere near as fierce as

some had foretold. Exit polls point to losses for the 2 major parties in the EU

elections (the EPP & Social Democrats), with greater fragmentation observed. The

EPP (centre-right) is exp. to hold the most seats, with the Social Democrats the

2nd largest. Worth highlighting that the EPP will not hold an outright majority.

- JPY is bottom of the G10 pile, with a lack of escalation re: U.S. & Japan

trade matters evident, although an imminent deal is not in the offing.

- A speech from ECB's Coeure headlines on Monday, with the U.S. & UK on holiday.